Friday, 4 September 2015

Eggheads Against Jeremy Corbyn: right-wing academics phone it in to the FT

It's taken the right wing ages to muster 55 Jeremy Corbyn-bashing academics in the FT. (They include Alastair Milne, Professor of Economics at the University of Loughborough. Any relation to Seumas?)

I hate to mock the afflicted but they really are flailing like punch-drunks and have tacked together an argument most of us can answer in our sleep (hello, railways!).

It should be noted that while JC's People's QE's is far too good for the likes of us, Draghi is promising yet more money printing for the banks.

And I swear to you, the list includes a Ronald MacDonald.

For those of you with FT access, the comments are the best thing about this desperate gesture. For those without, here are the salient bits of the letter:

Corbynomics has not been thought through seriously

We wish to register our opinion that the economic policies sketched by Jeremy Corbyn are likely to be highly damaging, and send this message to counter the impression that might be got from the previous letter of “41 economists” that Mr Corbyn’s policies command widespread support in the mainstream of the discipline.

Renationalising industries is highly unlikely to improve the performance of its targets, and very likely, if history is anything to go by, to make things worse. If compensation is paid, it will be a waste of fiscal space, even unaffordable; in case it is not, it will be extremely damaging to the climate for enterprise in the UK as other companies fear the government would get a taste for it.

“People’s QE” would be a highly damaging threat to fiscal credibility, and unnecessary, since at this time of very low interest rates and tolerable debt/GDP public investment — in many areas much needed — can be financed conventionally. Figures put on money that could be found from ending “corporate welfare” and combating tax evasion are almost unbelievable and add to the sense that Mr Corbyn’s plans have not been seriously thought through.

Paul Levine
Professor of Economics,
University of Surrey
Tony Yates
Professor of Economics,
University of Birmingham
Wouter den Haan
Professor of Economics,
London School of Economics
John van Reenen
Professor of Economics,
London School of Economics
George Magnus
Associate, China Centre,
University of Oxford
Ronald MacDonald
Professor of Economics,
Glasgow University
Cristiano Cantore
Senior Lecturer in Economics and
Deputy Head of School, University of Surrey
Joe Pearlman
Professor of Economics,
City University
Kent Matthews
Professor of Economics,
University of Cardiff
Costas Milas
Professor of Economics,
University of Liverpool
Akos Valentinyi
Professor of Economics,
Cardiff University
Valentina Corradi
Professor of Economics,
University of Surrey
Alex Mandilaras
Senior Lecturer in Economics,
University of Surrey
Cian Twomey
Lecturer in Financial Economics,
National University of Ireland, Galway
Miguel Leon-Ledesma
Professor of Economics,
University of Kent
Alexander Mihailov
Associate Professor of Economics,
University of Reading
Peter Sinclair
Professor of Economics,
University of Birmingham
Christopher Martin
Professor of Economics,
University of Bath
Richard Disney
Professor of Economics,
University of Sussex and Institute for Fiscal Studies
John Fender
Professor of Economics,
University of Birmingham
Chris Florakis
Associate Professor of Finance,
University of Liverpool
Philip Rothman
Professor of Economics,
East Carolina University
James Foreman-Peck
Professor of Economics,
University of Cardiff
Juan Paez-Farrell
Lecturer in Economics,
University of Sheffield
Mike Wickens
Professor of Economics,
University of York
Michael McMahon
Associate Professor of Economics,
University of Warwick
Michael Ben-Gad
Professor of Economics,
City University
George Bratsiotis
Reader in Economics,
University of Manchester
Dr Rebecca Driver
Economist, Analytically Driven
Phillip Booth
Professor of Insurance and Risk Management,
Cass Business School
Theo Panagiotidis
Professor of Economics,
University of Macedonia, Greece
Ali Al Nowahi
Professor of Economics,
University of Leicester
Manthos Delis
Professor of Financial Economics and Banking,
Surrey Business School, University of Surrey
Martin Ellison
Professor of Economics,
University of Oxford
Christopher Spencer
Lecturer in Economics,
University of Loughborough
Alastair Milne
Professor of Economics,
University of Loughborough
Tom Holden
Lecturer in Economics,
University of Surrey
Patrick Minford
Professor of Economics,
University of Cardiff
Mark Koyama
George Mason University,
Washington DC, US
Ettiene Farvaque
Professor of Economics,
University of Lille
Stephen Hall
Professor of Economics,
University of Leicester
Stephen Wright
Professor of Economics,
Birkbeck College, University of London
Ray Barrell
Professor of Economics,
Brunel University
Ben Ferrett
Senior Lecturer in Economics,
University of Loughborough
Roy Zilberman
Lecturer in Economics,
University of Lancaster
Richard Dennis
Professor of Economics,
Glasgow University
Peter Doyle
Former senior manager,
International Monetary Fund
Todd Kaplan
Professor of Economics,
University of Exeter
Bob Rothschild
Emeritus Professor of Economics,
University of Lancaster
James Davidson
Professor of Economics,
University of Exeter
George Kapetanios
Professor of Economics,
Queen Mary College, University of London
William Tayler
Lecturer, University of Lancaster
James Malley
Professor of Economics,
University of Glasgow
Kitty Ussher
Managing Director,
Tooley Street Research
Geraint Johnes
Professor of Economics,
University of Lancaster
Ethan Ilzetzki
Lecturer in Economics,
London School of Economics

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